Snap-On Incorporated (NYSE:SNA) Stake Lifted by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its ownership in Snap-On by 63.7%, acquiring 11,136 shares in the first quarter, bringing its total to 28,628 shares valued at approximately $9.65 million.
• Snap-On reported an earnings per share (EPS) of $4.72 for the last quarter, exceeding analyst predictions of $4.61, and achieved a revenue of $1.18 billion, slightly above estimates.
• The company's stock has recently seen mixed analyst ratings, with a consensus rating of "Moderate Buy" and a target price of $356.17.

Federated Hermes Inc. boosted its holdings in Snap-On Incorporated (NYSE:SNA - Free Report) by 63.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,628 shares of the company's stock after purchasing an additional 11,136 shares during the period. Federated Hermes Inc. owned about 0.05% of Snap-On worth $9,648,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Alpine Bank Wealth Management acquired a new stake in shares of Snap-On in the 1st quarter valued at about $25,000. Golden State Wealth Management LLC raised its stake in shares of Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after purchasing an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Snap-On by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock valued at $34,000 after purchasing an additional 72 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Snap-On in the 1st quarter valued at about $35,000. Finally, ORG Partners LLC raised its stake in shares of Snap-On by 150.8% in the 1st quarter. ORG Partners LLC now owns 158 shares of the company's stock valued at $54,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-On Stock Performance

Shares of SNA traded up $0.93 during midday trading on Monday, hitting $318.72. 352,310 shares of the stock traded hands, compared to its average volume of 369,799. The business's 50 day moving average price is $318.96 and its two-hundred day moving average price is $326.87. The firm has a market capitalization of $16.62 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 2.21 and a beta of 0.76. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. Snap-On Incorporated has a 1-year low of $266.56 and a 1-year high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping the consensus estimate of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the firm earned $5.07 earnings per share. The company's quarterly revenue was up .0% on a year-over-year basis. Equities research analysts predict that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SNA shares. Robert W. Baird upped their target price on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Bank of America upped their target price on shares of Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research note on Friday, July 18th. Barrington Research restated an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a research note on Tuesday, July 15th. Finally, Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $356.17.

Insiders Place Their Bets

In other Snap-On news, CFO Aldo John Pagliari sold 5,553 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the transaction, the chief financial officer owned 109,560 shares in the company, valued at approximately $35,808,590.40. This represents a 4.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the completion of the transaction, the chief executive officer owned 804,510 shares of the company's stock, valued at approximately $254,104,483.50. This trade represents a 2.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,815 shares of company stock worth $9,482,532. Insiders own 3.90% of the company's stock.

Snap-On Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.